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Les Secrets de Loly enters a new growth cycle with the arrival of new shareholders, including Weinberg Capital Partners
Les Secrets de Loly, the French brand specializing in textured haircare, announces the completion of a majority LBO with Quadrivio Group taking a majority stake in the company.
The transaction results in the exit of Quilvest Capital Partners, which took a minority stake in 2022 to support the company’s structuring and professionalization.
Founder Kelly Massol is significantly reinvesting and retains a substantial stake alongside the new majority shareholder. The management team, led by CEO Carlota Thévenot, remains in place and is participating in the transaction.
Quadrivio is joined in co-investment in this transaction by Weinberg Capital Partners and Three Hills Capital Partners.
A highly desirable brand delivering sustained growth
Founded in 2009, Les Secrets de Loly has established itself as the leading French brand for all textured hair types – from waves and curls to loose and tight coils – a structurally attractive market representing nearly two out of three women in France.
The company has delivered three consecutive years of double-digit growth. It benefits from a differentiated premium positioning, high-quality natural products, value-added distribution — including pharmacies, selective retailers and e-commerce — and a strong community-driven connection with its consumers.
Since Quilvest Capital Partners’ investment in 2022, the company has strengthened its governance, structured its key functions (finance, supply chain, sales), and consolidated its leadership team, building a platform ready for its next phase of scale.
Acceleration of the international strategy
With the entry of Quadrivio Group, Les Secrets de Loly opens a new strategic chapter focused on international expansion.
Following an initial development phase in Spain, the roadmap includes accelerated growth in Europe — particularly Southern Europe — and the Middle East. Quadrivio, a European investment fund with deep knowledge of international markets, will support the structuring of multi-market operations and the strengthening of local capabilities.
The objective is to sustain a long-term growth trajectory at European scale while consolidating the operational platform.
A structured exit for Quilvest
Having taken a minority stake in 2022, Quilvest Capital Partners supported the company’s organizational and operational structuring.
“This transaction marks a new milestone for the brand. After a successful structuring phase with Quilvest, we now have a solid foundation to accelerate internationally while preserving our DNA.”
Kelly Massol
– Founder of Les Secrets de Loly
“Welcoming new partners alongside us is a decisive step. We have demonstrated the strength of our model in France; it is now time to expand our impact beyond borders. Our ambition is clear: to establish Les Secrets de Loly as an international reference in textured haircare.”
Carlotta Thévenot
– CEO of Les Secrets de Loly
“We are particularly pleased to support Kelly Massol, a visionary founder who has built and developed a pioneering brand in its market. With Les Secrets de Loly, we are completing our third acquisition in the beauty and cosmetics sector.”
Marc Diamant
– Senior Director at Weinberg Capital Partners
“Les Secrets de Loly combines all the attributes of a desirable brand: category leadership, sustained organic growth, profitability and a committed management team. We will support the company in its European expansion and operational value creation during this new cycle.”
Philippe Franchet
– Managing Partner at Quadrivio Group
“We are delighted to enter the world of Les Secrets de Loly. The company’s growth in recent years represents only the beginning of a long development journey, which we will pursue by leveraging Quadrivio Group’s established expertise in Beauty, a strategic sector for us. We strongly believe in the brand’s potential and intend to invest in its positioning while supporting its international development across Europe and beyond.”
Alessandro Binello
– Group CEO of Quadrivio Group
“We were impressed by the strength of the brand driven by its founder Kelly Massol, its relevance within the textured hair category and its significant growth potential, both in France and internationally.”
Pauline Ammeux
– Partner at Three Hills Capital Partners
“We supported Les Secrets de Loly during a key phase of professionalization. The company now benefits from strong financial indicators and a platform ready to support its international expansion.”
Hichem Hadjoudj
– Partner at Quilvest Capital Partners
About Les Secrets de Loly
Founded by Kelly Massol in 2009, Les Secrets de Loly is a French brand specializing in textured haircare. Driven by an inclusive and performance-oriented vision, the brand develops natural and effective formulas tailored to the specific needs of wavy, curly and coily hair – from loose to tight coils. A category leader in France, Les Secrets de Loly is distributed across pharmacies, selective retail and online channels and is now accelerating its international expansion.
About Quadrivio Group
Quadrivio Group is a private equity investment firm specializing in supporting high-growth brands. With offices in Luxembourg, Paris, Milan, London, New York and Hong Kong, the Group manages more than €2 billion in assets. The firm focuses on investments in lifestyle, industry, the silver economy and Artificial Intelligence in partnership with Microsoft. Leveraging strong sector and operational expertise, Quadrivio supports ambitious companies in their international expansion, organizational structuring and sustainable value creation, including Autry, Sessun, Twinset and Filippo de Laurentiis.
About Weinberg Capital Partners
Founded in 2005, Weinberg Capital Partners is an independent investment company historically active in buy-out capital, which expanded its field of intervention to real estate assets in 2008. In 2020, Weinberg Capital Partners added its capacity to invest in SMEs/mid-caps with a minority strategy focused on sustainable development issues, which offers extra-financial support known as impact, to better prepare companies for environmental and societal challenges. In 2023, Weinberg Capital Partners created a new fund, Eiréné, dedicated to the development of SMEs/mid-caps in the security and defense sector. In 2024, the company continued its growth in private equity with the launch of a co-investment fund, WCP Co-Invest. In 2026, Weinberg Capital Partners announces the launch of its Private Wealth activity, dedicated to private clients. With €1.9 billion of assets under management, Weinberg Capital Partners is a significant player in the mid-market equity segment in France.
Weinberg Capital Partners is a signatory of the PRI, a member of the International Climate Initiative and an active responsible investor.
Weinberg Capital Partners supports Télémaque, an association for equal opportunities in education.
For more information : weinbergcapital.com.
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About Three Hills Capital Partners
Three Hills is an investment firm managing approximately €3.3 billion in assets, providing tailored financing solutions across Europe and North America through three dedicated investment strategies covering flexible capital, preferred capital and debt in the mid-market segment. Three Hills has become a trusted partner for entrepreneurs seeking active support: its backing has enabled more than 60 add-on acquisitions and expansion into over 70 new geographic markets.
With offices in London, Milan, Paris, New York, Madrid and Luxembourg, the firm relies on a team of 70 professionals. The transaction, led by the Paris office, was completed under Three Hills Impact, the firm’s ESG-focused lower mid-market strategy.
About Quilvest Capital Partners
Quilvest Capital Partners is an international investment platform active in private markets for more than 50 years. Quilvest currently manages over $7 billion in assets for family offices and international institutional investors across three strategies: (i) buyouts, (ii) funds and co-investments, and (iii) private debt.
Its buyout team specializes in the lower middle market, investing in companies with a track record of profitable growth in high-potential sectors. The 20-person team, based in Paris and New York, deploys between €100 million and €150 million per year, primarily in France, Western Europe and the United States, through majority or controlling minority stakes, with equity tickets ranging from €20 million to €60 million and enterprise values between €50 million and €200 million.
Press contacts
Bérengère Beaujean
Head of Communications
berengere.beaujean@weinbergcapital.com
+ 33 7 85 58 29 73
Juliette Arulanantham
+33 7 69 52 78 55
juliette.arulanantham@secretsdeloly.com
Maria Pompilo
+39 02 89093 758
m. pompilo@quadriviogroup.com
